Expect flat opening today
Chirag Gothi / 20 Apr 2016
Asian markets advanced on Wednesday morning, supported by higher oil prices overnight and Japanese shares advanced from the previous session attributed to a relatively weaker yen. On domestic front, A SGX Nifty 50 index future for April series traded down 15 points to 7,976. Indian markets are likely to open in the flat. Investors will be keeping an eye on Wipro results, due for release today.
Indian equities indices surged for the fourth straight session on Monday as investors cheered Infosys’ upbeat revenue forecast and positive macro data amid above normal monsoon projection that lifted sentiments. The Sensex rallied 189.61 points or 0.74% to 25816.36; and the Nifty rose 64.25 points or 0.82% to 7914.70. The broader markets were also witnessing buying interest, with the Mid-cap index advancing 1.26%; and Small-cap 1.11%. Yesterday, market remained closed on account of 'Mahavir Jayanti'.
U.S. stocks closed in the mix on Tuesday, amid a rise in oil prices, as declines in Tech sector pushed the Nasdaq lower. The Dow Jones industrial average rose 49.44 points or 0.3% to 18,053. The S&P 500 index gained six points, or 0.3% quoting 2,100. The Nasdaq composite index fell 19.69 points or 0.4% to 4,940.
European stock indexes closed higher on Tuesday, due to a round of upbeat earnings reports and sharp tick-up in oil prices. The Stoxx Europe 600 index jumped 1.5% to end at 349.24. The U.K.’s FTSE 100 index rose 0.8% to end at 6,405.35; while France’s CAC 40 index added 1.3% to 4,566.48. Germany’s DAX 30 index rallied 2.3% to 10,349.59.
Crude oil prices rose around 3% on Tuesday after a strike by workers in Kuwait nearly halved the OPEC member's crude production, overshadowing bearish sentiment after Sunday's failure by producers to agree to freeze output levels. WTI crude contract ended 3.3% higher at USD 41.08 a barrel, while Brent gained 2.6% to end at USD 44.03 a barrel.
Asian markets advanced on Wednesday morning, supported by higher oil prices overnight and Japanese shares advanced from the previous session attributed to a relatively weaker yen. Japan's Nikkei 225 index climbed 0.46% as the yen retreated. South Korea’s Kospi index rose 0.17%, while Australia’s S&P/ASX 200 Index added 0.24%. New Zealand’s S&P/NZX 50 Index increased 0.32%. The Shanghai Composite Index traded flatly after swinging between gains and losses; while the Hang Seng Index slid 0.49%.
On domestic front, A SGX Nifty 50 index future for April series traded down 15 points to 7,976. Indian markets are likely to open in the flat. Investors will be keeping an eye on Wipro results, due for release today.
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